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Wednesday, 26 September 2018

Q3 Average House Survey 2018 - Kilkenny

The average price of a three-bed semi in Kilkenny City
dropped 1.1% to €249,500 between June and September, according to a national survey carried out by
Real Estate Alliance.

Overall, the price
of the average three-bed semi in County Kilkenny rose by 0.5% to €215,500
between June and September.

County Kilkenny
prices rose by 7.5% in the last 12 months, the survey found.

“The bottom of the market is still very strong, but the
demand for houses priced at €400,000 upward has definitely slowed,” said Michael
Boyd of REA Boyd’s in Kilkenny City.

“There remains a lack of supply, but activity is very
strong, there is demand for all properties,” said Robbie Grace of REA Grace in
Callan, where the price of the average three-bed semi rose 2.9% to €175,000
this quarter.

The
REA Average House Price Survey concentrates on the actual sale price of
Ireland's typical stock home, the three-bed semi, giving an up-to-date picture
of the second-hand property market in towns and cities countrywide to the close
of last week.

The
average semi-detached house nationally now costs €234,824, the Q3 REA Average
House Price Survey has found – a rise of 1% on the Q2 2018 figure of €232,441.

Overall,
the average house price across the country rose by 5.8% over the past 12 months
– a decrease on the 8% recorded to June and indicating that the market is
continuing to steady after an 11.3% overall rise in 2017.

The price of a three-bed semi-detached house in Dublin has increased by
just 2.7% in the last 12 months as the Central Bank’s borrowing rules
increasingly define affordability in the housing market.

The rate of increase in second-hand three-bed semi-detached home prices in
Dublin city’s postcode zones was just 0.1% over the last three months, compared
to 4.1% for the same quarter last year.

After
rising by 12.5% in 2017, the average price of a second-hand semi-detached house
in the capital has increased by just €5,300 so far this year and now stands at
€443,333.

Growth
in the commuter counties also slowed to 0.9% in the last three months, with the
average house now selling for €248,528 – a rise of €2,000 on the second three
months of the year.

The
country’s major cities outside Dublin recorded a combined Q3 rise of 0.8%, with
an average three-bed semi costing €249,375.

The
highest increases were seen in the rest of the country’s towns, which
experienced a 2.1% rise in Q3 to an average of €156,383 – up €3,000 in 12 weeks.

“These
are areas where many buyers can still escape with a 10% deposit, it is still
largely not economic to build new homes, and the dwindling supply existing
stock at lower rates is disappearing,” said REA spokesperson Barry McDonald.